Finance Ministry’s local bond auction nets USD 147 mln

According to the Finance Ministry, it sold UAH 879 mln (USD 147 mln) in local bonds at auction yesterday. Almost the entire amount was sold in bonds maturing in May 5, 2010 at 15.6%. The Finance Ministry did not place bonds it offered maturing in April 2009, May 2009 and November 2013. Oleksandr Klymchuk: The auction’s low rate point to the government continuing to use local bond sales to state-owned banks for further resale to the NBU (see our news comment of November 14 for more details).